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'Super-committee' on brink of US deficit failure

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'Super-committee' on brink of US deficit failure

Post by Martyn20 on Tue Nov 22, 2011 2:03 am

Talks in Washington aimed at cutting the US government's borrowing are on the verge of failure.
A congressional "super-committee" had been charged with finding $1.2tn (£762bn) in savings to avoid automatic deep spending cuts.
But the talks between Democrats and Republicans are widely reported to have collapsed, with formal confirmation expected later on Monday.
Meanwhile, the US national debt has just risen above $15tn (£9.5tn).

BBC Story

Pathetic. They could not come to any agreement in Congress so they pushed it off to the Super Committee and as expected it failed. If I was in control of a rating's agency I would cut their rating immediately, what will it take to wake these people up that something must be done.



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